Indacoin, the leading
fiat-to-cryptocurrency
exchange, brings
security to the crypto
market with Kaspersky
Fraud Prevention

Indacoin is one of the pioneers in theauthenticated fiat-to-cryptocurrency
exchange industry, allowing users to
instantly purchase cryptocurrency
with their bank cards from more than170 countries. Indacoin launchedin 2014 with the mission of offering
secure cryptocurrency transactions.
One distinguishing feature of thecompany’s service is the wide rangeof available cryptocurrencies: there
are more than 100 coins registeredon the platform, and users can store
each of them in their Indacoin wallets.

A look at the industry
The service’s daily turnover can reach up
to US$310,000, including affiliate networktransactions by such market leaders as
OKEx, Changelly, Coinswitch and dozens
of other companies. One of the main
advantages of Indacoin is that it features asimplified verification process which, among
other things, enables customers to use theaffiliate services of all its partners easily andconveniently. Offering transaction security
not just to experienced cryptotraders but
also to newcomers has always been and willcontinue to be the key priority of Indacoin.

The cryptocurrency market is currently one of the most innovative fields in theworld, which is why there are many gray areas and blind spots in the regulationof cryptocurrency transactions that scammers can exploit.
The main threat is that a malicious actor will complete purchases using stolen or hacked
bank cards, which puts users at risk and negatively affects the company's reputation.
There is also a high proportion of cases where customers are misled and taken advantage
of: although most victims are senior citizens, it’s difficult to ignore the significant increasein the number of young people falling victim to scams.
The cryptocurrency environment has a number of distinctive features, but on the whole
Indacoin faces the same major risks that all financial institutions do: ensuring card andpayment data security, the reliability of personal user accounts, and the safety of client
funds. The specific nature of this type of service also requires the payer’s identity to beverified. That’s why anti-fraud measures are mainly focused on securing the transaction
process itself. It’s important for the company to intercept any fraudulent activity while
also complying with personal data processing regulations.

Solution“The Kaspersky Fraud
Prevention solution
has repeatedly provenits effectivenesswithout slowing
transaction speeds andpreserving a positive
user experience.”
Eva Williams,
Customer Relations Manager

Indacoin's priority is to ensure the simplicity and security of cryptocurrency transactions.
At the same time, platform security must comply with the highest international standards
and privacy policies of more than 170 countries.
The main criterion after the quality of the security verification process is speed, since
the cryptocurrency exchange rate is highly volatile and client transactions need to beprocessed in a matter of minutes.
In providing a service that meets these criteria, the Indacoin team has created
a comprehensive system for the prevention of fraudulent transactions, a key elementof which is Kaspersky Fraud Prevention. The Kaspersky Fraud Prevention solution helped
the company identify highly sophisticated fraudulent schemes, more precisely identify
dishonest users, as well as implement machine learning in the verification system. Special
attention should also be given to the professional expertise of Kaspersky’s fraud analysts
who participate in developing new ways to identify fraudsters and methods to combat
cybercriminals around the world.

Results
Despite the complexity of Indacoin’s business operations, the service was configured
quickly and effectively. In its first month Kaspersky Fraud Prevention was able to boost
the effectiveness of the security system by 38%. The most noticeable improvement
to the security system after the installation of Kaspersky Fraud Prevention was thedetection of transactions that were created by remotely accessing a client’s computeror phone. Further collaboration with Kaspersky has allowed Indacoin to provide themost robust security in the fiat-to-cryptocurrency exchange industry. That in turnhas helped the company accelerate the launch of new areas of activity and expand its
partnership portfolio.

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